Greetings HHSE Friends & Followers - the Hannover House Film & Television Library valuation report (previously determined to have become "stale" after marketplace changes), has finally been completed and will be incorporated within the company's Form 10 registration and upcoming balance sheets.
The market paradigm shift away from DVDs and BluRays at retail - in favor of direct to home streaming - rendered the prior opinion invalid. However, until a sufficient number of months of Video-On-Demand history could be tabulated, determining the offset of revenue valuations from V.O.D. could not be independently verified.
In the course of reevaluating the film library, the expired status of many of the titles required that HHSE obtain term extension addendums, so that the future forecasted revenues that the library represents could be supported with sales agreements for the coming years.
We believe that this is the final issue impacting the auditor's opinion letter covering the company's 2020 and 2021 year-end filings - which are included in the Form 10 registration. Stay tuned....
(Pictured Below: Some samples of the many movies under HHSE sales agency or distribution agreements - an assortment current and prior titles from the total of more than 475)
